Fannie Mae

In case you missed it, the financial system in the U.S. is near collapse. This weekend was unbelievable. Lehman Brothers filed for bankruptcy. The world's largest insurer AIG is looking for the Fed to help it avoid collapse and Merrill…

This is a topic I first broached in May. The United States has a mortgage problem in that house prices have fallen so much and the financial sector is so leveraged that the U.S. faces systemic banking risk from a vicious circle in the…

The post-mortems on Fannie and Freddie are flying in. It seems like it is almost non-stop Fannie and Freddie. Let me add to those voices with a bit of a twist: the bailout of Fannie and Freddie was as much a political move as it was a…

The finance and investing website Money Morning has a very provocative piece om Jim Rogers today. Rogers, who has been railing against the bailout of Fannie and Freddie for some time, thinks the Treasury and Federal Reserve will fail in…

Today, David Wighton over at the Times Online referenced U.S. Treasury Secretary Hank Paulson's quip that the U.S. Government had a bazooka ready to us in the case of the Frannie and Freddie Nightmare on Wall Street in saying:Helping to…

Apparently, the answer is yes. Thirteen "major" dealers of credit-default swaps agreed "unanimously" that the rescue constitutes a credit event triggering payment or delivery of the companies' bonds, the International Swaps and Derivatives…

If you are looking for the fallout from the Fannie and Freddie Nightmare on Wall Street, look no further than Gateway Financial and Midwest Banc. These two regional banks have nearly one-third of their tangible net worth tied up in GSE…

The U.S. government has finally stepped in to stop the bleeding. Fannie Mae and Freddie Mac, the two giant government sponsored enterprises have been taken into conservatorship and are now government property. As I consider this move a…

A prediction I first broached here in May in my post Question: How is Fannie Mae a AAA company? is finally coming to pass: Freddie Mac and Fannie Mae are getting nationalized. UPDATE: The U.S. Government takeover is now a done deal. See…

At the end of last week, the warning came. The Chinese officially warned Hank Paulson et al. that they better get their act together on Fannie and Freddie. The Chinese own a ton of GSE paper and they would be hopping mad to see their…